PROJECT STEEL MIDCO 1 LIMITED
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Next accounts due
2027-03-31 (in 10mo)
Last filed for 2024-12-31
Confirmation statement due
2026-12-24 (in 7mo)
Last made up 2025-12-10
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
-£11M
-20% lowest in 5 filed years
Employees
4
0% vs 2023
Profit before tax
-£2M
+11.1% vs 2023
Net assets
9-year trend · vs Consumer Discretionary median
Accounts
9-year trend · latest reflected 2024-12-31
| Metric | Trend | 2020-01-01 | 2020-12-31 | 2021-01-01 | 2021-12-31 | 2022-01-01 | 2022-12-31 | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | — | — | — | — | |
| Operating profit | — | — | — | — | — | — | — | — | — | |
| Profit before tax | — | -£1,732,070 | — | -£2,007,709 | — | -£2,147,298 | — | -£2,147,296 | -£1,908,417 | |
| Net profit | — | -£1,732,070 | — | -£2,007,709 | — | -£2,147,298 | — | -£2,147,296 | -£1,908,417 | |
| Cash | — | — | — | — | — | — | — | — | — | |
| Total assets less current liabilities | — | £13,622,104 | — | £16,244,655 | — | £16,244,655 | — | £15,826,669 | £15,744,655 | |
| Net assets | — | -£3,253,817 | — | -£5,261,526 | — | -£7,408,824 | — | -£9,556,120 | -£11,464,537 | |
| Equity | -£1,521,747 | -£3,253,817 | -£3,253,817 | -£5,261,526 | -£5,261,526 | -£7,408,824 | -£7,408,824 | -£9,556,120 | -£11,464,537 | |
| Average employees | — | 4 | — | 4 | — | 4 | — | 4 | 4 | |
| Wages | — | — | — | — | — | — | — | — | — | |
| Directors' remuneration | — | — | — | — | — | — | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
—
Not reported
-
Net assets
-20%
-£9,556,120 -£11,464,537
lowest in 5 filed years
-
Employees
0%
4 4
-
Profit before tax
+11.1%
-£2,147,296 -£1,908,417
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-01-01 | 2020-12-31 | 2021-01-01 | 2021-12-31 | 2022-01-01 | 2022-12-31 | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | — | — | — | — | 13.21x | 12.43x |
Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Forvis Mazars LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis.”
Group structure
- PROJECT STEEL MIDCO 1 LIMITED · parent
- Project Steel Midco 2 Limited 100%
- Project Steel Bidco Limited 88%
- Utility Bidder Holdings Limited 88%
- Utility Bidder Limited 88%
Significant events
- “The loan notes have been extended, resulting in a revised payment due date of 31 December 2026, instead of the original 21 December 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAKER, Nigel Alan | Director | 2020-10-13 | Sep 1968 | British |
| DRAKEFORD, Simon Scott | Director | 2025-11-24 | Oct 1972 | British |
| JONES, Lisa Leanne | Director | 2026-03-20 | May 1973 | British |
| NAYLOR, Alexander Nelson Russell | Director | 2025-03-31 | May 1975 | British |
| ROBSON, William Henry Mark | Director | 2019-07-24 | Jan 1963 | British |
| WOOD, Gregory Mark | Director | 2018-12-22 | Jul 1953 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| KING, Robert Douglas | Director | 2018-12-14 | 2018-12-22 |
| MORGAN, Jeremy Alexander | Director | 2018-12-14 | 2018-12-22 |
| SHAW, Christopher Neville | Director | 2018-12-22 | 2025-07-27 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Project Steel Topco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-12-14 | Active |
Filing timeline
Last 20 of 32 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-06 | AA01 | accounts | Change account reference date company current extended | |
| 2026-05-06 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-03-22 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-06 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-24 | CH01 | officers | Change person director company with change date | |
| 2025-09-22 | AA | accounts | Accounts with accounts type full | |
| 2025-08-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-29 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-26 | AA | accounts | Accounts with accounts type full | |
| 2023-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-28 | AA | accounts | Accounts with accounts type full | |
| 2022-12-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-23 | AA | accounts | Accounts with accounts type full | |
| 2021-12-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-14 | AA | accounts | Accounts with accounts type full | |
| 2021-01-07 | AA | accounts | Accounts with accounts type full | |
| 2020-12-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-10-18 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.